$~29 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 18.09.2024 + CS(COMM) 800/2024 OMIRICO LIMITED & ANR. .....Plaintiffs Through: Mr.Anand Tiwari, Mr.Vijay Nair, Ms.Pallavi Tayal and Ms.Tanvi, Advs.

versus PJSC SBERBANK & ANR. .....Defendants Through: None.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA NAVIN CHAWLA, J. (ORAL)

I.A. 39656/2024

1. This is an application seeking condonation of delay in re-filing of the Suit.

2. For reasons stated in the application, the delay is condoned.

3. The application is, accordingly, disposed of.

I.A. 39655/2024

4. This application has been filed by the plaintiff under Order XXXVIII Rule 5 read with Section 151 of the Code of Civil Procedure, 1908.

5. The application has been rendered infructuous in view of the Order passed today and the same is, accordingly, disposed of.

CS(COMM) 800/2024

6. This Suit has been filed by the plaintiffs, praying for the following reliefs:

Signature Not Verified Digitally Signed CS(COMM) 800/2024 Page 1 of 8 “a. Pass a Decree of Mandatory Injunction, thereby enforcing the Mareva Injunction Order dated 14.08.2023 passed by the District Court of Nicosia, Cyprus in Action No. 2019 of 2023 and prohibiting the Defendant No. 1 personally and/or its employees and/or servants and/or agents and/or front mans and/or directors and/or officials and/or officers and/or representatives to use and/or remit and/or transfer and/or withdraw and/or burden by any means and/or donate and/or assign and/or pledge and/or otherwise dispose and/or alienate any assets and/or amounts up to US$170,000,000.00 (one hundred seventy million USD) and/or equivalent amount in any other currency at the time of the issuance of the present order from its accounts and/or bank accounts the Defendant No.1 maintains in banks and/or banking Institutions and/or financial and/or private banking institutions in India, and/or any other assets up to the amount of US$170,000,000.00 (one hundred seventy million USD) and/or prohibit all transactions of the Defendant No. 1's bank accounts and/or prohibit any payment of third party claims and/or any other transaction and/or transactions in regards to the Defendant No. 1's capital up to the amount of US$170,000,000.00 (one hundred seventy million USD) under its direct and/or indirect control and/or ownership until the final decision of the District Court of Nicosia, Cyprus in Action No. 2019 of 2023 and/or until any further Court Order.”

7. It is the case of the plaintiffs that a Loan Agreement dated 15.12.2010 was entered into between the plaintiff no.2, that is, Torresant Industry Limited, and the plaintiff no.1/Company, that is, Omirico Limited, whereunder the plaintiff no.2 lent an amount of $117,980,000 to the plaintiff no. 1. The loan amount was advanced for Signature Not Verified Digitally Signed CS(COMM) 800/2024 Page 2 of 8 a period of 5 years to be repaid on or before 15.12.2015.

8. The plaintiffs state that, thereafter, by way of addendums, the due date for the repayment of the loan had been extended. Finally, vide Letter dated 04.03.2022, a demand notice was issued by the plaintiff no.2 on the plaintiff no.1, seeking repayment of the loan amount. Subsequently, on 12.04.2022, the plaintiff no.2 preferred a winding up petition bearing Petition No.132/2022 in the District Court of Limassol against the plaintiff no.1.

9. An Interim Order dated 14.04.2022 was passed by the District Court of Nicosia, thereby, appointing a provisional liquidator, namely, Mr.Ionnis Poyiadjis.

10. Several correspondences were exchanged by the said liquidator with the Directors of the plaintiff no.1, who gave him various documents and evidence in order to trace and safeguard the assets of the plaintiff no.1.

11. The liquidator also informed the defendant no.1, vide a Letter dated 06.05.2022, of the Prohibition Order dated 14.04.2022 passed by the District Court of Nicosia.

12. It was also realised that the plaintiff no.1 had deposited approximately $153,945,145, distributed in four accounts